William Blair Initiates Coverage of Mersana Therapeutics (MRSN) with Outperform Recommendation

Fintel reports that on February 6, 2025, William Blair initiated coverage of Mersana Therapeutics (NasdaqGS:MRSN) with a Outperform recommendation.

Analyst Price Forecast Suggests 663.69% Upside

As of January 29, 2025, the average one-year price target for Mersana Therapeutics is $5.48/share. The forecasts range from a low of $1.01 to a high of $9.45. The average price target represents an increase of 663.69% from its latest reported closing price of $0.72 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Mersana Therapeutics is 107MM, an increase of 205.94%. The projected annual non-GAAP EPS is -2.07.

What is the Fund Sentiment?

There are 253 funds or institutions reporting positions in Mersana Therapeutics. This is an decrease of 4 owner(s) or 1.56% in the last quarter. Average portfolio weight of all funds dedicated to MRSN is 0.07%, an increase of 3.47%. Total shares owned by institutions increased in the last three months by 3.92% to 124,543K shares. The put/call ratio of MRSN is 1.09, indicating a bearish outlook.

What are Other Shareholders Doing?

EcoR1 Capital holds 19,365K shares representing 15.68% ownership of the company. No change in the last quarter.

Nextech Invest holds 12,067K shares representing 9.77% ownership of the company. In its prior filing, the firm reported owning 9,526K shares , representing an increase of 21.06%. The firm decreased its portfolio allocation in MRSN by 0.59% over the last quarter.

VR Adviser holds 11,328K shares representing 9.17% ownership of the company. No change in the last quarter.

Bain Capital Life Sciences Investors holds 8,664K shares representing 7.01% ownership of the company. No change in the last quarter.

Citadel Advisors holds 4,412K shares representing 3.57% ownership of the company. In its prior filing, the firm reported owning 2,744K shares , representing an increase of 37.81%. The firm increased its portfolio allocation in MRSN by 44.12% over the last quarter.

Mersana Therapeutics Background Information
(This description is provided by the company.)

Mersana Therapeutics is a clinical-stage biopharmaceutical company using its differentiated and proprietary ADC platforms to rapidly develop novel ADCs with optimal efficacy, safety and tolerability to meaningfully improve the lives of people fighting cancer. Mersana's lead product candidate, upifitamab rilsodotin (UpRi), is a Dolaflexin ADC targeting NaPi2b and is in the expansion portion of a Phase 1 proof-of-concept clinical study in patients with ovarian cancer and NSCLC adenocarcinoma. XMT-1592, Mersana's second ADC product candidate targeting NaPi2b-expressing tumors, was created using Mersana's customizable and homogeneous Dolasynthen platform and is in the dose escalation portion of a Phase 1 proof-of-concept clinical study. The Company's early-stage programs include XMT-1660, a Dolasynthen ADC targeting B7-H4, as well as XMT-2056, a STING-agonist ADC developed using the Company's Immunosynthen platform. In addition, multiple partners are using Mersana's Dolaflexin platform to advance their ADC pipelines.

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